>but I doubt this leak will have any lasting financial impact.
I am going to have to stop you there. As someone who works in the financial sector, I have quite a different view of this situation. Best case scenario (for the organization) is that it is fined directly into bankruptcy and someone like FIS acquires them for pennies on the dollar. I am still waiting for CFPB to drop a nuclear bomb over this issue. There will be new PII regulations around the corner for sure.
I also question the extent of the leak... I keep hearing it was just basic PII, but if someone got a dump of the entire credit history database, a huge range of financial products (e.g. Knowledge-Based Authentication) become entirely compromised.
I am going to have to stop you there. As someone who works in the financial sector, I have quite a different view of this situation. Best case scenario (for the organization) is that it is fined directly into bankruptcy and someone like FIS acquires them for pennies on the dollar. I am still waiting for CFPB to drop a nuclear bomb over this issue. There will be new PII regulations around the corner for sure.
I also question the extent of the leak... I keep hearing it was just basic PII, but if someone got a dump of the entire credit history database, a huge range of financial products (e.g. Knowledge-Based Authentication) become entirely compromised.